welcome [s23.q4cdn.com] · $4.6b $0.4b ~ $3.2b ~ $1.8b 2,227 894 ~ 3,120 ~ $140,000 (brnc) ~...
TRANSCRIPT
![Page 1: WELCOME [s23.q4cdn.com] · $4.6B $0.4B ~ $3.2B ~ $1.8B 2,227 894 ~ 3,120 ~ $140,000 (BRNC) ~ $125,000 (ONSITE) ~ 80,000 ~ 340 ~ 60,000 $10.0B $8.7B $1.3B $7.5B $2.5B 2,200 3,400 ≃5,600](https://reader033.vdocument.in/reader033/viewer/2022053014/5f11110edccd4f5b3b1de7a5/html5/thumbnails/1.jpg)
2019 ANNUAL SHAREHOLDERS’ MEETING
WELCOME TO
TH
E
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FORWARD-LOOKING STATEMENTS
Certain statements contained in this presentation that are not historical facts are forward-looking
statements and are thus prospective. These forward-looking statements are subject to risks, uncertainties,
and other factors which could cause actual results to differ materially from future results expressed or
implied by such forward-looking statements. More information regarding such risks can be found in
Fastenal’s annual and quarterly SEC filings.
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WELCOME
2019 ANNUAL SHAREHOLDERS’ MEETING
WILL OBERTONCHAIRMAN OF THE BOARD
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INVOCATION
2019 ANNUAL SHAREHOLDERS’ MEETING
PASTORMARK DUMKEFAITH LUTHERAN CHURCH
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THANK YOU & APPRECIATION
2019 ANNUAL SHAREHOLDERS’ MEETING
FOUNDERS
Robert A. Kierl in
Henry K. McConnon
John D. Remick
Stephen M. Slaggie
Michael M. Gostomski
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THANK YOU & APPRECIATION
2019 ANNUAL SHAREHOLDERS’ MEETING
BOARD OF DIRECTORS
Willard D. Oberton
Michael J. Ancius
Michael J. Dolan
Daniel L. Johnson
Scott A. Satter lee
Reyne K. Wisecup
Stephen L. Eastman
Daniel L. Florness
Rita J. Heise
Darren R. Jackson
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OFFICAL BUSINESS & BALLOTING
2019 ANNUAL SHAREHOLDERS’ MEETING
JOHNMILEKVICE PRESIDENT
GENERAL COUNSEL
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REPORT ON COMPANY
2019 ANNUAL SHAREHOLDERS’ MEETING
DANFLORNESSPRESIDENT AND CEO
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THANK YOUFOR BEING A SHAREHOLDER IN FASTENAL
PRIORITIES FOR LONG-TERM PERSPECTIVE
WITH A SHORT-TERM EDGE
✓ Customers
✓ Employees
✓ Suppliers
✓ Shareholders
2019 ANNUAL SHAREHOLDERS’ MEETING
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AP R IL 1 6 - 1 8 , 2 0 1 9 AU R O R A, C O
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A local footprint with a global presence
Proximity
1
A consistent flow to minimize risk and costs
Distribution
3
Because one size does NOT fit all
Solutions
4
Investing in our team so we can better serve you
People
6
Filling in knowledge gaps to elevate your operation
Expertise
7
Providing you with needs outside of standard scope
Resources
8
Proving value through reporting and data
Results
9
A single source for a wide range of needs
Product
2
W HAT DO ES STRATEGIC LO O K L IKE?
Bringing added value beyond the product
Services
5
A partnership dedicated to hitting your business goals
Commitment
10
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STRATEGIC PARTNERSHIP
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+ EMPLOYEE SAFETY
STRATEGIC PARTNERSHIP
33%
Industrial Vending
Safety Program
$100K+ Savings in Year One
CONSUMPTIONREDUCTION
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Dollars in millions except per share info 2016 Growth 2017 Growth 2018 Growth
NET SALES $3,962 2.4% $4,390 10.8% $4,965 13.1%
OPERATING
EARNINGS$796 (-4.0)% $882 10.8% $999 13.3%
PRE-TAX EARNINGS $790 (-4.4)% $873 10.6% $987 13.0%
NET EARNINGS $499 (-3.3)% $579 15.8% $752 29.9%
DILUTED EPS $1.73 (-2.3)% $2.01 16.2% $2.62 30.5%
NON-FASTENERS ~$2,500 5.0% ~$2,800 13.1% ~$3,200 14.7%
FASTENERS ~$1,400 (-2.3)% ~$1,500 8.4% ~$1,700 11.2%
SALES & EARNINGS
2019 ANNUAL SHAREHOLDERS’ MEETING
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THOUGHTS ABOUT THE BUSINESS
2019 ANNUAL SHAREHOLDERS’ MEETING
Dollars in millions 1996 2007 2018
SALES $100 $100 $100
GROSS MARGIN $53 $51 $48
OPERATING EXPENSES* $34 $33 $28
OPERATING PROFIT $19 $18 $20
PRE-TAX EARNINGS $19 $18 $20
INCOME TAX RATE 40% 38% 24%
NET EARNINGS $11 $11 $15
OPERATING CASH FLOW $4 $11 $14
OPERATING CASH FLOW VS. NET EARNINGS 38% 98% 90%
Operating expenses plus or minus gain/loss on disposal
Defined as operating cash f low minus capital expenditures, net
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THE BUSINESS - 10,000 FOOT PERSPECTIVE
TOTAL SALES
US & CDN
All Else
Non-Fasteners
Fasteners
# Branches
# Onsite
Branch + Onsite
Avg. Revenue per Month
# Vending (Product)
Avg. # per Large MSA
# Bin Stocks
$2.0B
$2.0B
$0.0B
~ $1.0B
~ $1.0B
2,160
148
~ 2,300
~ $73,000(BRNC + ONSITE)
< 200
-
-
$5.0B
$4.6B
$0.4B
~ $3.2B
~ $1.8B
2,227
894
~ 3,120
~ $140,000 (BRNC)
~ $125,000 (ONSITE)
~ 80,000
~ 340
~ 60,000
$10.0B
$8.7B
$1.3B
$7.5B
$2.5B
2,200
3,400
≃ 5,600
≃ $190,000
≃ $125,000
225,000
> 1,000
250,000
10 TODAY FUTUREYEARS*
AGO
* All values pertaining to December 31, 2007
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INTERNATIONAL ORIGIN
Stoney Creek,
ON
C A N A D A
Burlington,
ON
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ROAD TO $10 BILLION
SUPPLIERS:
ENHANCEMENTS TO
THE SUPPLY CHAIN
EMPLOYEES:
SKILLS NEEDED
TO SERVE
INVESTORS:
STRONG FINANCIAL
PERFORMANCE
CUSTOMERS:
DEVELOP OUR
CAPABILITIES
2019 ANNUAL SHAREHOLDERS’ MEETING
Growth Through
Customer Service
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2019 ANNUAL SHAREHOLDERS’ MEETING
BUSINESS UPDATE:INFORMATION TECHNOLOGY
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INFORMATION TECHNOLOGY
2019 ANNUAL SHAREHOLDERS’ MEETING
JOHNSODERBERGEXECUTIVE VICE PRESIDENT
INFORMATION TECHNOLOGY
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TRANSFORMATIVE TECHNOLOGY
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TRANSFORMATIVE TECHNOLOGY
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TRANSFORMATIVE TECHNOLOGY
FAST BIN - SCALE FAST BIN - INFRARED FAST BIN - RFID
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TRANSFORMATIVE TECHNOLOGY
Employee VIEW…
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TRANSFORMATIVE TECHNOLOGY
Customer VIEW…
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MY BUSINE SS • MY INVENTORY • MY SPEND • ANALYT ICS
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PEOPLE & TECHNOLOGY
2019 ANNUAL SHAREHOLDERS’ MEETING
DO MORE WITH LESS
✓ Connected Through IoT
✓ Driving Labor Efficiency Through Data Transparency
✓ Predictive & Prescriptive Analytics to Inform Decisions & Strategy
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TRANSFORMING
THE WAY WE DO BUSINESS.
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THE PEOPLE DIFFERENCE
2019 ANNUAL SHAREHOLDERS’ MEETING
DANFLORNESSPRESIDENT AND CEO
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WIRED FOR GROWTH THROUGH CUSTOMER SERVICE
CUSTOMERS SUPPLIERS INVESTORSEMPLOYEES
Willingness to trust
us with their supply
chain needs.
Willingness to approach
their business with a
‘Think Big!’ mindset.
Willingness to improve
and change with us.
Willingness to believe
in what we are
capable of.
2019 ANNUAL SHAREHOLDERS’ MEETING
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THE PEOPLE DIFFERENCE
LEADERSHIP COMPETENCIES
▪ Develop Self
▪ Develop Others
▪ Leading Direction
▪ Align People & Resources
▪ Inspire Commitment
2019 ANNUAL SHAREHOLDERS’ MEETING
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THE PEOPLE DIFFERENCE
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LONG-TERM EMPLOYEE RECOGNITION
25+ YEAR EMPLOYEES
30+ YEAR EMPLOYEES
35+ YEAR EMPLOYEES
40+ YEAR EMPLOYEES
181 76 16 4
2019 ANNUAL SHAREHOLDERS’ MEETING
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Q & A
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ANNOUNCEMENT
2019 ANNUAL SHAREHOLDERS’ MEETING
12:00pm to 2:00pm
CUSTOMER EXPERIENCE CENTER
OPENHOUSE
today
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BALLOT RESULTS & CLOSING
2019 ANNUAL SHAREHOLDERS’ MEETING
WILL OBERTONCHAIRMAN OF THE BOARD
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THANK YOUFOR JOINING US